72. Search Volume Analysis

Another aspect to look into before embarking on carving out a web presence for your company and its products on the Internet is the search volume analysis. There are various means by which you can get the data for your business plan.

You can use the data from the Google Adwords internal/external tool to get the data of search volume for the targeted product and related keyword. This serves various purposes:

1) You get to know the feasibility of the product in the virtual world and how active is the market with respect to that particular product.

2) It gives your business plan some crucial data with respect to the competition with regards to that particular item.

3) It also allows you to ascertain the depth of competition for your business plan.

The higher the search volume for that particular keyword, the larger is the customer base. Further, based on the search volume you can analyze the kind of users who are searching for that particular keyword. This can help you in shaping up your product in accordance with the demands of that particular segment. Are there more women or men searching for this keyword? What is the age group? How much time do they spend on the website? What is the conversion rate? Which part of the world provides the maximum traffic? All these questions form the basis of search volume analysis in a business plan.